The Bank of Thailand has confirmed its intervention in the baht’s value, using it as a measure to control the currency’s strength against the US dollar.
..
The Bank of Thailand has confirmed its intervention in the baht’s value, using it as a measure to control the currency’s strength against the US dollar.
Key takeaways
The Bank of Thailand is taking action to manage the baht’s value, using this approach to regulate the currency’s strength in relation to the US dollar.
The Bank of Thailand’s international reserves increased significantly in August, reaching $235.6 billion, due to the intervention in the baht and the dollar’s depreciation.
The appreciation of the baht affected exporters but not the tourism sector in the last quarter of the year; the number of foreign tourists in August remained stable with a slight decrease of 0.1% compared to the previous month.
Chayawadee Chai-anant, the deputy governor of the central bank’s corporate relations group, explained that the entity intervened in the baht’s exchange rate,…